New search
Property profile & analytics
OFF-MARKET
Estimated value
$12,865,000
Garden apartment buildings
409 Galveston Ct Cary, NC 27513-4524
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-1630385
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
8,022 SF
Lot
5.22 ac (227,383 SF)
Zoning code
RMFP
APN
0764.14-32-3860 0013216
UPID
US53-1630385
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Anahyshousclean (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.69M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.32M
Blend (final)
Blend
$12.87M
Owner & transaction history
404b Lynn Ct LLC · 4 yrs held
404b Lynn Ct LLC
since 2021
Last sale
$12.0M
6 recorded transactions
Zoning & alternative use
RMFP · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$14,320,000
ML approach
$11,685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.87M
Range $11.58M – $14.15M · ±10% · vs last sale $12.00M (Dec 22 2021)
Last sale anchor
$12.00M
Dec 22 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,604 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$49,034
Tax year 2023
Assessed value
$4,773,887
Assessed 2023
Previous assessed
$4,773,887
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$1,530,000
Assessed improvement
$3,243,887
Land market value
$1,530,000
Improvement market value
$3,243,887
Total market value
$4,773,887
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1973
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
6
Rooms
245
Total area
8,022 SF
Lot
5.22 ac (227,383 SF)
Zoning code
RMFP
APN
0764.14-32-3860 0013216
UPID
US53-1630385
Jurisdiction
WAKE
Zoning & alternative use
RMFP · Cary, NC
Zoning RMFP · permitted uses
RMFP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
6
Rooms
245
Lot
5.22 ac
Current owner
From public records · entity-resolved
404b Lynn Ct LLC
Entity
Mailing address
529 COLUMBUS AVE APT #18, BOSTON, MA 02118-3455
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2021
$12,000,000
404b Lynn Ct LLC
Pine Ridge Owner LLC
Special Warranty Deed
$9,000,000 · Oceanview Life And Annuity Company
Dec 16, 2020
$8,200,000
Pine Ridge Owner LLC
Expanco INC
Special Warranty Deed
$5,740,000 · First Carolina Bank
Sep 22, 2008
—
Expanco INC
—
Trustees Deed
related
$300,000 · Branch Banking & Trust Co
—
—
Expanco INC
—
Deed Of Trust
related
$1,200,000 · Branch Banking & Trust Co
—
—
Expanco INC
—
Deed Of Trust
related
$250,000 · Wells Fargo Bk
—
—
Expanco INC
—
Deed Of Trust
related
$1,350,000 · Wells Fargo Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 409 Galveston Ct?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
